Backed by the Nordic seed-fund Maki.vc, the Finland-based startup Aisti raised 1.6 million euros in a funding round. The company creates natural and ecologically sustainable solutions that meet the needs of modern construction. The round saw participation from a group of investors assembled by Valve Ventures. The Jyväskylä-based company will benefit from the funding to build a demo plant and product development. The funding will pave the way for the preparation of an investment for a large production plant. Pirkka Palomäki and Eerik Paasikivi are joining the board.
Finnish Aisti is revolutionizing the construction material industry with their sustainable acoustic tiles
Aisti, a Finnish startup in the construction material industry, has completed a 1,6M€ funding round. The company is backed by the Nordic seed-fund Maki.vc who is known from being the first investor in Spinnova. The round was complemented by a group of investors assembled by Valve Ventures, and at the same time two new members were invited to the company’s Board of Directors, Pirkka Palomäki and Eerik Paasikivi.
Aisti develops wood fiber based acoustic tiles that are carbon negative, easy to recycle and plastic-free. Current solutions are problematic because they have high CO2 emissions and are not easily recyclable or plastic-free. In addition, the Aisti tiles cause no irritation during installation or use.
“Our goal is to rise alongside the world’s largest acoustic tile manufacturers by offering sustainable products for the needs of today’s construction”, says Mikko Paananen, the company’s founder and CEO.
By using Aisti tiles instead of existing (stone and glass wool) products, construction companies can reduce their carbon footprint without any cost impact. There has been demand in the market for carbon-negative products for years, but there has been no supply. Currently, the acoustic tile market is divided between four major players.
“Our objective is to penetrate into that same market and aim for a turnover of 500 million euros in 2030,” says Antti Fredrikson, founder and Chairman of the Board of Aisti.
The fresh funding will be used to build a demo plant, product development and the preparation of an investment for a large production plant.
“Aisti’s technology is ready and scalable quickly. There is a huge potential in carbon-negative and cost-competitive new building materials”, says Pirkka Palomäki, Maki.vc’s partner.
Aisti’s founders Antti Fredrikson, Petri Jetsu and Mikko Paananen have a strong background in acoustics, business development, wood fiber based product and process development and brand creation. The first customers have already been obtained from large architectural firms and the demo tiles have been well received by developers and construction companies.
Originally published on ArcticStartup : Original article